T K Lo & Co

Hong Kong CPA Firm


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Account - Circular



Revenue recognition is a very basic concept in accounting, but it still leads to a lot of disputes in practical application. Rather than preparing a comprehensive circular for the reference of clients, the annual seminar notes of our Partner, James and Assistant Manager, Manchi are helpful to give clients a more clear picture about revenue and their recognition.

The directors of Hong Kong companies are responsible for the preparation of financial statements in accordance with  the Hong Kong Companies Ordinance and one of the following standards issued by the Hong Kong Institute of Certified Public Accountants:
Hong Kong Financial Reporting Standards
, or
Hong Kong Financial Reporting Standard for Private Entities, or

Small and Medium-sized Entity Financial Reporting Standard (SME-FRS)

An analysis of their details is attached for your reference